Quote:
Originally Posted by fatlazyless
As every NH home owner knows, our despised imaginary NH non-existent 5% sales tax is automatically built into our property tax, like an imaginary fourth bedroom that you don't actually have, but are assessed as if you did.
Plus your NH state and local property tax up to $10,000 is deductible off your federal taxable income. If you have too high an assessment then you should sell off your highly assessed house and go live in the three car garage! ..... 
Therefore, if the State of Maine had no sales tax then beautiful, clean, clear Lake Sebago would now be totally iced over! .... |
That $10,000 deduction is useless too because the standard deduction, especially filing jointly, way exceeds it. Only if you have a huge mortgage and pay tons of interest will that $10,000 deduction ever kick in. I think it might only apply to primary too, I forget, but it doesn't matter anyway.
If Maine had no sales tax, their property taxes would go up too. Someone needs to pay for the roads, snow removal, schools, trash, fire, police etc.